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Search Results 0 to 29 of about 30 (some duplicates have been removed)
. >> reporter: house speaker john boehner said republicans were willing to suspend the debt ceiling for three months. sending democrats to act. >> it has been nearly four years since the senate has done a budget. most americans believe you don't do your job, you shouldn't get paid. that's the basis. no budget; no pay. it is time for the senate to act. >> reporter: the white house called the move by house republicans "significant," though the administration still argues a short-term extension of borrowing authority does not go far enough. >> what we support is a long- term raising of the debt ceiling so that we don't have any doubt or uncertainty for businesses or the global economy about the simple proposition that the united states always pays its bills. >> reporter: at a house hearing on the debt ceiling debate, simon johnson, a former chief economist for the i.m.f. warned the continuing controversy could roil global markets and hurt the u.s. at home. >> if you don't raise the debt ceiling now, or if you postpone this confrontation, if you say every 60, 90, or 100 days, we're going to again
include this -- suspension of the debt ceiling for three months. on the 19th of may, the debt limit increases from $16.4 trillion to accommodate addional raring the treasury requires r and bills withholes the pay of lawmakers if congress fails to pass a budget by the 15th of april putting the money in escrow to comply with the 27th amendment of the constitution. joining us now is congressman gomert, vice chair of the subcommittee on crime, terrorism, and homeland security, and republican of texas. good to have you with us. first your impression before we turn to the debt limit of the president's inaugural address. >> well, lou, he started out great, quoting from the declaration from our founding documents, you know, endowed by the creator with certain inalienable rights saying that although they were self-evident, they are notself-executing as you pointed out earlier. now, as a lawyer, that sounds okay in court, you know, talking about the self-executing will or affidavit, but i'm afraid for those of us listening to an inaugural, it was more rem necessary sent of lincoln saying we w
this is at least the republicans recognize increase the debt ceiling is something we need to do. but in fact, three months is not good enough. it really is unacceptable for my opinion and i think most of the democrats, because there are plenty of opportunities for us and we should really be looking long-term how we can reduce the deficit and deal with long-term sustainability for medicare and medicaid. those are issues that we have to look at and i believe we will and we have opportunities to do that around the budget, around the sequester, of course we will have to deal with in less than, well, six weeks. and we should. the debt ceiling, we need that certainty for the markets, for our economy. we know what happened when the republicans played around with not raising the debt ceiling in august of 2011. the economy was deeply hurt. we're in a recovery and we certainly should not let the republicans let us slip back with failing to provide that kind of certainty and not only the american markets but the global markets. >> congresswoman schwartz, thanks so much for coming on the program after a long w
ceiling for a period of three months, and the republicans have made a big concession. they had their dance and took a moment to savor the scene. now it's time to get back to work. in his inaugural speech, the president called on both parties not to let politics get in the way of governing. >> we must act knowing that our work will be imperfect. we must act knowing that today's victories will be only partial. >> reporter: so republicans are offering a compromise on the debt ceiling. house gop members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling has raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. i think we realize the president won the election. >> reporter: but republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a highe debt limit, they want senate democrats to do something they haven't done in four years -- pass a budget. >> for us to have a debate about spending and debt, we've
they were going to extend the debt ceiling for at least another three months right now without a big fight, they thought they were making gestures that the president would respond to. they were surprised that he gave this kind of rather liberal speech with his agenda for a second term yesterday. >> eight big question is, what happens next. it's a big speech. it lays out big markers. the base, whether it's a democrat in congress or grassroots movement, they were thrilled with the speech, the progressive movement was really happen. the republicans were disappointed. you see that sign behind john boehner, no budget, no pay. there's a chance to still do some business here but the signals have republicanis thinking wait a minute. you remember the pressure from tea partiers and others it's hard to begin with. if they think the president is going to for everything they give him and ask for more, if he's not going to push for more cuts but demand republicans do more, that's the mistrust that's been magnified because of that speech. >> i think the news conference outside of houston, the harris coun
the debt ceiling, we are suspending it, so we are saying that for this period of three months the debt ceiling gets no higher, it just does not apply. it has magically vanished. we live in a sane political world in which we no longer have a debt ceiling. in addition to basically saying we don't have enough sort of leverage on this to fight on it, they have also set the precedent of you know what we can do, make the debt ceiling disappear, and then nobody has to vote on raising it. i think they should do that for a little bit longer. like forever. >> it is smoke and mirrors. i really don't think the world republican necessarily applies to many of the members in the house republican caucus. unfortunately, we have to leave it there. thank you, my friend, for your time, and infinite wisdom. it is always great to see you. coming up after the break, the decades after the struggle for equal rights began, there are still a handful of states that continue to deny basic health services to women. one of them is mississippi where a pitched battle threat toenz deny the estate's women their constitu
the "state of the union" and see the budget. but republicans decided not to make the debt ceiling a big issue. was a three budget extension and a month supporter of no pay with no budget but we need to focus on spending. it is a problem but we do need more investment was critical infrastructure but they have to be coupled with a concrete and forceful proposal to deal with deficits. neil: hope springs eternal as they went to the party of president has been reelected to undo what bill clinton tried to do not big government as the enemy but efficient doing the will of the people without wasting the money but this president might be the most liberal since fdr not to know if his way is the right way but it could be his way or the highway. we will see you tomorrow.
of traders and investors anticipate a similar situation with the debt ceiling. whether we get this extension of three months or whether overnight some kind of resolution to it is being done it seems like the general consensus is this thing will be fixed and we will be able to move on and look forward past it. there's a blast of winter rushing through the u.s. this week. what will that mean for natural gas prices? we have seen natural gas prices climb aggressively off their lows. we pushed through 350 last week. we also had a draw down in their storage report. we're expecting another draw down going forward. but as far as other similar markets like crude oil and heating oil we've also seen quite a bit of demand for the. crude oil has a little bit more geopolitical tension so you are seeing the bent crude start to pick up a little bit more than west texas. but i think all these markets still look pretty good going forward. thank you philip. thank you. the bi-weekly paychecks most of us receive every other friday have been a little smaller since the first of the year. --the result of the payrol
we're going to do, we're going to pass a three or four-month extension of the debt ceiling. then we're going to get into a fight on the sequester and hold the line of the sequester. this is a promise the leadership is making to us. as long as they keep that promise i think many conservatives will be ok with that. then when we get to the debt ceiling fight we're going to ask for at a minimum the one--- the one-for-one cuts that come from the boehner rule for any long-term debt ceiling extension system of if we look at that, it means that in 10 to 15 years, with very little help from the democrats, we can achieve a balanced budget which is much better than even the 23- to 27 -- better than the 23 years to 27 years and obviously better than the never balancing budget obama and the democrats have proposed for the last four years. so you look at all the data out there. all the public opinion polls say that the american people think we're spending too much money. that the american people think that we are taxing too much. but the problem is that as republicans, i think this goes to what r
, they're going to introduce their bill, vote on their bill to extend the debt ceiling for three months, give themselves a little running room, but this is a president who is going to be aggressive about his agenda. he didn't just talk over republicans, he went right after them, talking about takers, s saying that's not what social security and medicare are, a jab not only at mitt romney but paul ryan, who he will be dealing with. >> when you have a guy who has bullied you in the schoolyard for four years and you finally fight the bully and you beat them like he just did in this election, you're not as afraid of the bully as you was or at least cautious. i think they bullied this president. he went to the mat and re-elected with a wider margin than george bush and saying the bullying is over. we're either going to fight or work together. >> the problem is both sides feel like they were bullied over the past four years and they've got to figure out how to work together over the next four years. i want to talk about yesterday with you quickly and open it up. it struck me as a son of the s
resolution that is done in the government. we have the debt ceiling. these three major things are going to consume congress because republicans and democrats don't agree how to resolve those. he will become tied up dealing with this and it has to be done. we have to deal with these things. immigration and gun-control, these are things, like a marriage, almost wish list items. i know immigration is a big item appeared that will also be hard to move something that is progressive or liberal with a divided congress, as is gun- control. we all know and assault weapons ban cannot get through the house. it's not going to get through. it is possible they will get background checks. maybe it very scaled-back versions of what the president was talking about yesterday. but in a full-scale, you will not able to get assault weapons ban through. he will not able to get immigration through in the way progressives would like. so that probably will not happen. but the spending will have to be dealt with. sources will be made, in that sense. host: we're talking about president obama's second term. we wan
including raising the debt ceiling, which the house expected to vote on tomorrow. in the inaugural address, he made history as the first president to mention the word "gay" and "gay rights." >> if we are truly created equal surely the love we commit to one another mutt be -- must be equal, as well. >> there will be one more party tonight, the obamas and friends celebrate with campaign and white house staffers at inaugural ball where supposedly lady gaga is performing. >> the president is sworn in on two bibles one from martin luther king and the other from abraham lincoln. traffic and weather, together, next on the abc7 morning news. here is the golden gate bridge, dry as a bone. but maybe, maybe, maybe there is rain in the forecast. >> and a deal to sell sacramento kings so they can move to seattle. the ripple effect that >> welcome back, almost everyone is just a bit warmer than yesterday so we do not have as frost. 32 at concord and fairfield is 31. upper 30's around the bay to 40 in oak and 47 in san francisco. this afternoon, low-to-mid 60's with filtered sunshine because of the high
the republicans were down and out. think again, the house will vote for a three-month ceiling on the debt seen and comes with a price. g.o.p. leaders said they would vote for the extension, but that the measure would also require the democratic controlled senate to pass a budget and if ne do ththey fail that, pay for lawmakers will be withheld. and we've got to look at the house and spending problem. no budget, no pay. joining me now with reaction. congressman david schweiker and walldon. i was skeptical when i heard the republicans are giving in already. i had a couple of discussions this weekend, and some of your colleagues, explain the rational. number within, they say sequestration that's cuts are going into effect and force the president and senate to come one a budget and the senate didn't pass a budget in three and a half years. i liked it more when it was explained to me. is that about right. >> i think it is, sean and about time the senate did the legal responsibility of passing the budget we passed one each the last two years we'ven been in the majority. the ryan plan laid out how to
that allows them to pay off the debt ceiling for another three months. we emerge from almost crisis to almost crisis through the next year while at the same time you notorious on the other side for complaining that the problem with our economy is uncertainty. i have heard that many times than a little bit both here in this institution and in the rules committee and those that were on the political trail. now i agree that continuously threatening to fulfill our national obligations is a serious breach of economic uncertainty. but republicans seem to be attracted to this kind of dangerous gimmicks to act seriously to act on the full faith and credit of the united states. until they do, i suspect that we'll have a lot more meetings on this very issue. now as a lawyer, not a constitutional scholar, having made a lot of decisions about constitutionality as a federal judge and when i went on the bench, i was accused of being a judicial activist. and i was thrown off the bench. i was accused of being a judicial activist. and i guess that's compared to strict constructionist. and if there was ever a
or the debt ceiling. am i right? they don't sit down and make a decision that the lack of impact to make decisions in your business. >> one thing is a lack of certainty and the things we're certain of for small businesses, and hate to keep beating a dead horse, president obama is one of the job killers in america. and small businesses are going to do everything they possibly can to decrease the head counts. because with head counts comes liabilities with payroll tax and also the obamacare penalties. >> greta: and so, do you have any idea what you're going to do in your business. >> four things that will probably happen with small companies, there's going to be more outsourcing and get less people on the payroll and you don't have to pay increased payroll taxes and don't necessarily subjects to the penalty of obamacare and see a lot of contractors being hired on the 1099's, so once again, they don't add to the head count and a lot of part-time employees, people are not going to hire full-time employees, an equivalent of multiple part-timers making up and back filling for what used to be f
of saying hey, we're not going to lift the debt ceiling, you say, yeah, we will for three months and then go ahead and pass a budget in that time period. is that possible? >> i sure hope so. obviously that's the goal. that's been my goal for the last 18 months since i've been in the senate. obviously to push the senate to do something. as you mentioned, we haven't had a budget for almost four years. washington, d.c i think we can agree on one thing, that the worst run institution in america right now is the united states congress. we need to do something different. >> brian: so to do that, you got to get to some control over your own colleagues and to do that, hold on to their paycheck. republicans like darrell issa say i think that's unconstitutional. >> there is a lot of people in washington, d.c. that obviously don't want to cut their pay. the purpose of that constitutional amendment was to make sure that members of congress didn't enrich themselves during the legislative session. i'll tell this to darrell issa and nails wants to make this argument. cut your pay and go back to your distri
, but raising the debt ceiling for a budget to be named later is to me something i probably won't be able to vote for. >> if you raised it for three months unconditionally, three months from now what principles do you stand on to keep you from raising it again? >> all republicans have been frustrated by the senate failing to pass a budget. speaker boehner's office released inknow graphic about what could have been accomplished since the last budget passed on april 29, 2009. it clouded 179 round trips to the moon. circumnavigating the globe 73 times. leading senate republicans say it's time for the senate to step up. it has been four year since the senate acted on a budget. in fact, if you believe this. many of you have ipads. ipads didn't exist the last time the senate passed a budget. >> the senate majority didn't say no but he didn't fully embrace the house deal either. >> i'm glad that they sent us up a clean -- they are going to send us a clean debt ceiling bill. the other stuff on it, we'll approach it when we need to. glad we're not facing a crisis here in a matter of a few days. >>
to push things back, the debt ceiling will be pushed off essentially for three months. is that good news or bad news? i mean what would you like to see happen right away? >> well, i do think that that just continues the uncertainty. you know, i think if there's a time frame and a time line and they can make real progress that that's a positive. i think to the extent that they just keep -- if they keep moving it out i think that's going to be a negative. you know, certainly it's not going to be resolved in the next few weeks. and so if they need to take a few months to really pull together, and really get the dialogue and the actions put in place, that we can make real progress, then i think that will be seen as positive. but i think it really does have to play out in the individual actions that are going to occur over the next few months in washington. >> we also, the gentleman from the transportation said that around the world, and we talk about austerity, a lot of the austerity in europe, i guess, was higher taxes. he said consumers here and around the world are going to have less disp
. but i would look at a three-stage process here. the first is tomorrow to deal with the debt ceiling and extend without a number extend the ability of the government to continue to expend until mid-may. then i would look at march 1st sequestration. that is the agreed-to reduction s amounts that the president already agreed to. >> and we've heard what sequestration would to to the government and people? >> not really, but with the nomination of peter, historically he's talked about cuts in defense. if you're going to cut, anyway, then let's get started and what about, too, is happening in the middle east, we'll find out tonight who takes israel, obviously netanyahu is leading the poles now. at the same time, north africa in the news with all of the latest violence at the gas field in algeria. so does this complicate the narrative of wanting to push ahead with sequestration? >> well, the speech yesterday was very short on international affairs. which i found surprising. because we are in ra very dangerous place right now. there is a great deal of uncertainty and new turmoil. sequestrat
: they were you are. don't move. i want to talk to you about what kneele just brought up. the debt ceiling debacle and those comments from chuck schumer. all of that after the break. the staggering death toll in the algerian hostage crisis keeps rising. reports say more than 80 people were killed including three americans. now some question why the algerian government acted the way it did. we have details on the latest developments. more "money" coming up. don't go away. ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. mortgage. married. two great kids. he wants to protect his family with a $500,000 term life insurance policy. what do you think it'll cost him? a hundred dollars a month? sixty? forty? actually none of the above. john can get a $500,000 policy -from a highly rated insurer - for under $25 a month. his secret? selectquote.
limit. >> reporter: they plan to debate that today and vote tomorrow. the debt ceiling is currently set at $16.4 trillion and the treasury department says we could hit that in just three weeks. house republican leadership proposes extending the debt limit through mid-may to avoid missing any payments. so far, several senate democrats and the white house approve that plan but it's another short-term fix. california congressman mike honda does not want congress in charge of setting the debt limit. they just introduced a bill that could -- that would allow the treasury to pay off the debts unless there's something introduced to stop it. >> i think we should have a progress that addresses that so it doesn't become a barrier or a political football. >> reporter: the country has never defaulted on payments but even debating the debt ceiling could have a negative impact on the economy. kyla campbell, ktvu channel 2 news. >>> let's get you updated on some of the top stories we're following right now. flights from san jose to tokyo are canceled again today after airlines were forced to ground hu
would extend the nation's debt limit for three months, in exchange it would require the house and senate to pass a budget. republicans are offering a compromise backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised. time now is 6:40. coming up, a terrifying turn of events in spain, a woman faints and falls in the path of a train, who came to her rescue. >>> the market just opened ten minutes ago, let's get a quick look at the early numbers here. our boards are not, woulding but we'll get an update from jason brooks. holly quan, holly quan a woman in spain faints and falls onto train tracks... she is rescued just as a subway is >>> caught on video, a woman in spain faints and falls onto train tracks and is rescued as a subway train is approaching. this happened yesterday in madrid. an off-duty police acted immediately. at the same time, people on the platform waved frantically to tell the train operator to stop. the woman's condition is unknown. >>> nonstop flights between san jose and tokyo are on hold
real economic growth, we have the whole debt ceiling debacle. where are you now? you have seen the offer from the republican, are you taking heart? >> well, i am. i hope the democrats take it. it's not perfect, but it's three months. look, we are talking about the wrong thing. we are talking about the vehicle to come to some type of agreement on long-term fiscal responsibility. we need to be talking about getting these -- the national debt as a especially of gdp growth on some type of sustainable trajectory. whether it's -- it's a short term or a long term issue, and if we don't address the long term problem we're still going to be focusing -- facing eventually a reduced confidence in our full faith and credit. probably more ratings downgrades. those are results that we should avoid at all costs. >> not cool for austerity. >> no, it's a call for responsibility. it should be done over the long term. do it now. because the longer you wait the more difficult it comes. you have the huge deficits that makes the debt bigger. the gdp growth will not support the growth at that level. d
to extend that debt ceiling deadline until may 19th. elsewhere, earnings reports will likely influence trades today. dupont, johnson & johnson, and ibm all report today. natalie? >> courtney regan at the new tock exchange, thank you. >>> the u.s. education department says it takes more than the standard four years for more than 20% of students to ini finish and get their deemployee mas. they credit the rise in graduation rate for the stiff competition for limited jobs. >>> an analysis of marrs' mclaughlin crater has scientists investigating new evidence that there was water on the red planet. using data from the mars reconnaissance orbiter, it may once have been a lake fed by an underground water supply. the findings are published in "nature geo science" and may push the search for ancient life on mars underground. >>> off-duty police officer in madrid is being credited as a hero this morning after rescuing a woman who fainted and fell on the city's subway tracks. the officer leaped into action and pulled the 52-year-old woman to safety. an oncoming train saw the trouble on the tracks
Search Results 0 to 29 of about 30 (some duplicates have been removed)